Big KCC Fraud in Bank of Baroda! Economic Offences starts investigation into Rs 82.44 Lakh KCC Loan Scam
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The Economic Offences Wing (EOW) in Sagar, Madhya Pradesh has uncovered a major Kisan Credit Card (KCC) loan scam worth ₹82.44 lakh at the Sironja branch of Bank of Baroda. A fraud case has been registered against 15 individuals, including the branch’s former manager.
The EOW investigation found that Archana Baghmare, who was the branch manager at the time, approved fake KCC loans with the help of her associates Gajendra Singh and Kamlesh Ahirwar. They submitted forged documents to get loans sanctioned under the KCC scheme.
The case has been registered under various sections of the Indian Penal Code, including 420 (cheating), 409 (breach of trust), 467, 468, 471, and 120 (conspiracy). The local police and EOW are jointly investigating the case and strict action will be taken if the role of other persons is revealed in the case.
According to investigators, the group hid important details in loan documents such as:
- The correct size of agricultural land
- Information about the crops grown
- Whether the land was already pledged as security for other loans
Violation of Loan Approval Rules
A lot of irregularities have been reported in loan sanctioning. Normally, before giving a loan, the bank must conduct a physical inspection of the land and get a legal verification report from an approved bank advocate. But in this case, no such checks were done. Instead, a fake verification was provided by an unauthorized advocate, VSJB Rana, also known as Veenu Rana.
People Named in the Case
So far, 15 individuals have been named in the fraud case:
- Archana Baghmare (Former Branch Manager)
- Gajendra Singh (Associate)
- Kamlesh Ahirwar (Associate)
- VSJB Rana alias Veenu Rana (Advocate)
- Daulat Singh
- Premlal Kurmi
- Balved Singh
- Kamta Singh
- Raghavendra Singh
- Vijay Singh
- Liladhar Singh
- Pancham Singh
- Ramprasad Sahu
- Haribai
- Raghuraj Ghoshi
More Accused May Be Identified
The EOW has said that the investigation is still ongoing, and if more people are found involved, legal action will also be taken against them.
Due to the scam, Bank of Baroda has suffered a total financial loss of ₹82.44 lakh. The fraud involved taking KCC loans by misusing the scheme meant to help real farmers, which raises serious questions about checks and balances in the system.
